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Stifel

Start of Coverage: 25-02-2019

Resume of the last report made by this analyst

We raised our 2021-22 earnings estimates by 2% on average based on accelerating food inflation in all regions, especially Colombia and Poland. Hold rating reaffirmed. Price Target goes from €19.3 to €20.7 based on a DCF model with unchanged 8.5% WACC and 1% perpetuity growth rate.

Analyst: Cedric Lecasble

e-mail: cedric.lecasble@stifel.com

The information presented refers to recommendations issued by analysts that follow the Jerónimo Martins’ share. For more information, please read the Analysts Coverage section in this website’s Terms and Conditions.